Britain

Providence Resources chief executive Tony OReilly resigns

Providence Resources PLC (LON:PVR) has announced that Tony OReilly has resigned from his position as chief executive with immediate effect.

Chairman Pat Plunkett will cover the executive function on a temporary basis whilst the company recruits a long-term replacement.

It comes as the future of the Barryroe oil project is undetermined, with Providence recently losing patience with delays to payment from intended Chinese partner APEC. The explorer is now free to enter agreements with other partners.

READ: Providence Resources stops rolling over loan deadline

Plunkett, in a statement, noted that OReilly leaves by mutual and amicable agreement.

“Since the foundation of the company, Tony has been the main driver behind the development of the business and has been passionate in promoting the companys role in oil and gas exploration in the Irish offshore sector,” Plunkett said.

“Over the years, Tony led the company into partnerships with some of the worlds leading energy companies including ExxonMobil, Eni, Chevron, Repsol, Petronas and Total.

“A major milestone during his tenure at Providence was the successful drilling and testing of BarryroRead More – Source